GreenBox POS (GBOX)

[StockItOut]

Full year guidance $1.2B

GreenBox POS Shares Rise 10% on Processing-Volume Guidance

4/6/21, 7:27 AM
GreenBox POS shares rose 10% to $17 Tuesday after the company said it expects first-quarter processing volume to materially outpace its initial guidance for 2021.

The company said it now expects at least $1.2 billion of processing volume for the year, improved operating margins and additional new smart-contract token volume. The company previously said it expected processing volume of $600 million.

GreenBox said its blockchain ledger-based payment services have gained traction as the addition of new merchants accelerates after the January launch of its Gen3 technology. Processing volume is the primary source of GreenBox revenue, which is residual based.

The company said its original 2021 projections were based on fourth-quarter processing volume levels and were too conservative.

The stock hit its 52-week high of $18.52 earlier in the session.

Write to Chris Wack at [e-mail]


(END) Dow Jones Newswires
04-06-21 1027ET
Copyright (c) 2021 Dow Jones & Company, Inc.